With an aim to infuse more money in early stage startups, venture capital firm, SAIF Partners has raised $350 Mn for its India-dedicated fund.
According to a filing with US regulatory agency SEC made on March 2, SAIF Partners has raised its targeted amount from 27 investors. It had raised the previous India-dedicated fund from the same number of investors around four years ago.
There are reports that the venture firm is also planning to unveil a new fund this year along along with several other India-focused VC firms. SAIF Partners has backed mobile payments firm Paytm, online ticket booking portal Bookmyshow, MakeMyTrip and JustDial. If the sources are to be believed the firm is likely to increase investments in tech startups.
The other homegrown investors who are looking to raise funds or has already raised funds are as follows-
Helion Venture Partners – Helion Venture Partners is planning to float its fourth fund this year, whose size is expected to be $200-250 Mn.
Kalaari Capital – Going to raise $200-250 Mn fund.